Today’s session focuses on important macroeconomic data from both Europe and the United States, which may set the tone for markets ahead of further investment decisions.
In Europe, markets are primarily focused on PMI readings for the services sector in Spain, Italy, France, Germany, Sweden, and across the eurozone. These data will help assess the current economic condition of the region, the dynamics of the services sector, and potential risks to economic growth. Markets will watch the PMI in the context of global trends, particularly in the services sector, which is sensitive to changes in demand and consumer sentiment.
In the United States, market attention is on the ADP employment report for the private sector and the ISM services index. These releases will provide insights into the labor market and business activity in the economy, which is especially important amid the ongoing US government shutdown, adding uncertainty and increased volatility to financial markets. The US corporate earnings season is also still ongoing, further influencing fluctuations in the technology and financial sectors.
Markets will closely analyze these publications to assess both the current economic conditions and potential implications for monetary policy in the coming months. Stronger-than-expected indicators could boost risk appetite and support cyclical assets, while weaker readings may increase risk aversion and drive demand for safe-haven assets such as government bonds or the Swiss franc.
Today’s Calendar (CET)
08:00 Germany – Industrial Orders for September
-
s.a. (m/m): actual 1.1% (forecast 1%; previous -0.4%)
-
n.s.a. (y/y): 1.5%
-
w.d.a. (y/y): actual -4.3% (previous 2.1%)
08:45 France – Industrial Production m/m for September: 0.1% (previous -0.7%)
09:00 Czech Republic – Preliminary CPI (October)
-
m/m: 0.3% (previous -0.6%)
-
y/y: 2.3%
09:15 Spain – Services PMI (October): 54.6 (previous 54.3)
09:30 Sweden – Interest Rate Decision (November): 1.75% (unchanged)
09:45 Italy – Services PMI (October): 53 (previous 52.5)
09:50 France – Financial Services PMI (October): 47.1 (previous 48.5)
09:55 Germany – Financial Services PMI (October): 54.5 (previous 51.5)
10:00 Eurozone – Financial Services PMI (October): 52.6 (previous 51.3)
10:00 Italy – Retail Sales s.a. m/m (September): 0.2% (previous -0.1%)
10:30 UK – Financial Services PMI (October): 51.1 (previous 50.8)
11:00 Eurozone – Producer Price Index PPI (September)
-
m/m: -0.1% (previous -0.3%)
-
y/y: -0.2% (previous -0.6%)
11:00 Germany – Public speech by Bundesbank President Joachim Nagel
13:00 USA – Mortgage Applications (weekly): 7.1%
14:00 Hungary – NBH Meeting Minutes (October)
14:15 USA – ADP Employment Report (October): 28k (previous -32k)
15:45 USA – Financial Services PMI (October): 55.2 (previous 54.2)
16:00 USA – ISM Services Report (October)
-
ISM Services Index: 50.7 (previous 50)
-
Business Activity Index: 49.9
-
Employment Index (ISM Services): 47.2
-
Prices Paid Index: 69.4
16:00 Poland – MPC Statement (November)
16:30 USA – Weekly Petroleum Stock Change (weekly)
-
Crude Oil Change: +1 million bbl (previous -6.86 million bbl)
-
Gasoline Change: -1.1 million bbl (previous -5.94 million bbl)
-
Distillates Change: -2 million bbl (previous -3.36 million bbl)
Earnings Calendar (before Wall Street session)
- Novo Nordisk
- McDonald’s Corporation
After Wall Street session
- Qualcomm Incorporated
- Arm Holdings
- Applovin Corporation
BREAKING: European Services PMIs Slightly Above Expectations in October
BREAKING: France's industrial production exceeds expectations! EURUSD slightly up!
Risk sentiment improves, but can the AI trade fully recover?
BREAKING: Industrial orders from Germany slightly above expectations
This content has been created by XTB S.A. This service is provided by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, entered in the register of entrepreneurs of the National Court Register (Krajowy Rejestr Sądowy) conducted by District Court for the Capital City of Warsaw, XII Commercial Division of the National Court Register under KRS number 0000217580, REGON number 015803782 and Tax Identification Number (NIP) 527-24-43-955, with the fully paid up share capital in the amount of PLN 5.869.181,75. XTB S.A. conducts brokerage activities on the basis of the license granted by Polish Securities and Exchange Commission on 8th November 2005 No. DDM-M-4021-57-1/2005 and is supervised by Polish Supervision Authority.
